Columbia Records introduces the long-playing record album in a public demonstration at the Waldorf-Astoria Hotel in New York City.

Columbia Records is an American record label owned by Sony Music Entertainment, a subsidiary of Sony Music Group, an American division of multinational conglomerate Sony. Founded in 1889, Columbia is the oldest surviving brand name in the recorded sound business, and the second major company to produce records. It is one of Sony Music's four flagship record labels, along with Epic Records and longtime rival RCA Records, as well as Arista Records. RCA and Arista were originally owned by BMG until Sony's acquisition at the end of their merger in 2008.

The LP is an analog sound storage medium, specifically a phonograph record format characterized by: a speed of 33+1⁄3 rpm; a 12- or 10-inch diameter; use of the "microgroove" groove specification; and a vinyl composition disk. Introduced by Columbia Records in 1948, it was soon adopted as a new standard by the entire US record industry and, apart from a few relatively minor refinements and the important later addition of stereophonic sound in 1957, it remained the standard format for record albums during a period in popular music known as the album era. LP was originally a trademark of Columbia and competed against the smaller 7-inch sized "45" or "single" format by RCA Victor, eventually ending up on top. Today in the vinyl revival era, a large majority of records are based on the LP format and hence the LP name continues to be in use today to refer to new records.

The Waldorf Astoria New York is a luxury hotel and condominium residence in the Midtown Manhattan neighborhood of New York City, New York. The structure, at 301 Park Avenue between 49th and 50th Streets, is a 47-story, 625 ft (191 m) Art Deco landmark designed by architects Schultze and Weaver and completed in 1931. The building was the world's tallest hotel until 1957, when it was surpassed by Moscow's Hotel Ukraina. An icon of glamor and luxury, the Waldorf Astoria is one of the world's most prestigious and best-known hotels. Both the exterior and the interior of the Waldorf Astoria are designated by the New York City Landmarks Preservation Commission as official landmarks.